Although price inquiries for Turkish
wire rod in the export markets have accelerated slightly after Ramadan holiday, demand is still weak. Meanwhile, Turkish
wire rod export offers have remained unchanged week on week at $420-430/mt FOB.
Foreign buyers are in no rush to conclude purchases of Turkish
wire rod, while Turkish steel producers are expected to increase their
wire rod export prices amid the rises seen in their production costs as both scrap and billet prices have moved upwards in the current week. Market sources state that this expectation may cause demand for Turkish
wire rod to increase since some buyers will be eager to accelerate their Turkish
wire rod purchases before prices move up.